Commentary & Deal Flow

Launched: 5yr: €500m @ MS+100bp - Orderbook in excess of €1.65bn (pre-rec)
Book Update: Books in excess of €1.25bn
IPTs: 5yr: MS+130a

• Issuer of Loan Notes: Julius Baer Group Ltd. (Ticker: BAERVX)
• Loan Notes Issuer LEI: 5299007MF0604ZGJER92
• Issuer of ELM Notes: ELM B.V.
• ELM Notes Issuer LEI: 724500DHUNQ9NF3A7D24
• Issuer Ratings: Baa1 (Moody’s)
• Expected Issue Ratings: Baa1 (Moody’s)
• Format: Reg S Registered Notes
• Ranking: Senior Unsecured
• Type: 5-year Fixed Rate Notes
• Title: EUR 500m [•] per cent. Senior Unsecured Fixed Rate Notes due 2031 secured by Fixed Rate Senior Unsecured Loan Notes due 2031 by Julius Baer Group Ltd.
• Size: €500,000,000
• Pricing Date: 09-Jun-26
• Settle: 16-Jun-26 (T+5)
• Maturity Date: 16-Jun-31
• Interest Payment Dates: Payable annually in arrear on 16-Jun in each year, commencing on 16-Jun-27.
• Day Count: Act/Act ICMA
• Business Day Convention: Following unadjusted
• Business Days: T2, London and Zurich Business Days
• Final Redemption: 100% of the aggregate principal amount of the Notes
• Documentation: Final Series Memorandum – Preliminary Series Memorandum dated 09-Jun-26
• Use of Proceeds: General corporate purposes
• Denominations: €100,000
• Governing Law: Swiss Law (Loan Notes), English Law (ELM Notes)
• Listing: Euronext Dublin for the ELM Notes; the Loan Notes will not be listed
• ISIN: XS3397091573
• Product Governance: The manufacturer target market (EU MiFID II / UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No EEA PRIIPs key information document (KID) or UK disclosure document required by the FCA Product Disclosure Sourcebook has been prepared as not available to retail in EEA or UK
• Selling Restrictions: US (Reg S only. Not 144A eligible), EEA, UK, The Netherlands, Switzerland (no public offer), Hong Kong, Italy, Belgium, Singapore. The ELM Notes may only ever be sold, re-sold or otherwise transferred to non-US Persons under Reg S., in each case as further described in the Final Series Memorandum.
• Stabilisation: FCA/ICMA
• Joint Bookrunners: BNP Paribas, BofA Securities, Deutsche Bank and UBS Investment Bank
• Final Series Memorandum: The Final Series Memorandum, when published, will be available on the website of Euronext Dublin (https://www.euronext.com/en/markets/dublin)
• Timing: Books open, today’s business
• Books Subject: 13h15 CET